GE's Profit Rises 9.7% in 4th Quarter
On Strength in Its Power Systems Unit

By

Rachel Emma Silverman Staff Reporter of The Wall Street Journal

Updated Jan. 18, 2002 12:01 a.m. ET

General Electric Co. said fourth-quarter net income grew 9.7% as a surge in its power-unit business helped overcome the impact of a faltering economy and declining profits in other units, such as aircraft engines.

GE's net totaled $3.93 billion, or 39 cents a share, up from $3.59 billion, or 36 cents a share, a year earlier. The results were in line with consensus Thomson Financial/First Call estimates.